The ROI on consolidating A/P functions for DSD categories with a third party partner is substantial and immediate. iControl provides our retailers and their suppliers a transparent, secure, cost-effective way to pay thousands of vendors and invoices - with a single check or EFT transaction per delivery week.
When it comes to Accounts Payable Conoslidation, iControl will:
• Help you reduce the number of active vendors in your A/P system by hundreds or possibly thousands
• Reduce your payroll expense associated with the A/P functions of any category assigned
• Improve your accuracy by trasacting all business via EDI (if you use EDI)
• Eliminate the practice of cash payouts at store level
• Eliminate payment at store level by draft or check (and the associated costs)
• Be responsible to maintain and track the correct supplier of each product, by item/store/day
• Keep you appraised, to the extent you wish to be appraised, of supplier turnover
• Transmit payment on your behalf to the correct suppliers by mail or EFT (at iControl's expense)
• Provide help desk and first-level customer support to suppliers who have A/P questions
• Provide your suppliers with Remittance Advice detailed to your specifications
• Alert you to any instances of stores failing to transmit ("poll") data
• Indemnify you from errors, and reduce your insurance exposure and liability
EDI provides many benefits to supply chain partners:
• Reduce the amount of paperwork created for orders, invoices, returns, and credits.
• EDI is a vastly more accurate and economical way to transmit critical data such as UPC updates
• Because EDI can be stored electronically, the amount of physical storage space needed to preserve historical records is virtually eliminated
• Reduce the inevitable human errors that result from key-entry of data.
• Eliminate duplicate entry of data (once on the supplier's side, once on the retailer's side)
• Allow the parties to increase business volume and grow sales without increasing the number of documents or the amount of manual or redundant tasks performed by either/both parties